Over the last 10 years, we’ve worked with manufacturers of all sizes and across a huge diversity of products, from intricate lab equipment to genius turbo machinery!
Many of these companies had already made the decision to export when they contacted us, but as we’ve entered partnerships with them we’ve started to understand what drove them to export in the first instance.
Hopefully this can inspire you to join them!
Let’s look at the facts:
- 53% of companies who export say they evolved a new product or service because of their business overseas
- 34% of businesses say they do not experience any significant barriers to doing business overseas.
- 35% of companies who export report significant growth due to exporting.
2014’s Technology Makes Exports More Profitable
All of the companies we’ve provided translation services for have realised the massive benefit in export markets. In the last few years, we’ve seen a distinct shift as technology has allowed many of these companies to start to sell direct to businesses and consumers rather than using agents or distributors. This makes getting into the export market much quicker and more profitable – in fact the UKTI’s research shows that 91% of companies use this direct approach.
Exporting isn’t just about increasing revenue
Research has shown that firms that export achieve stronger financial results – you’d probably expect this as they can sell to more people! But what most people don’t know is that companies who export also experience increases in their productivity and are more likely to stay in business than those that don’t.
Exporters experience levels of growth and economies of scale that are unrivalled by those companies trading domestically. For many it is the crucial difference between surviving and thriving.
Entering new markets helps manufacturers use their plant capacity, reducing costs overall.
From an R&D perspective, new markets often mean modifications which can often lead to further manufacturing efficiencies or crucial new ideas being developed, which could be tomorrow’s revenue revolution.
Exporting increases credibility
In a survey amongst exporting companies – 63% said that just the fact they were seen as a global organisation enhanced their credibility.
In addition to this – there is a massive benefit in being British! Having a British brand was regarded by most exporters as an advantage when trading overseas, especially in engineering and technology markets where, as a nation, we have a superb history of excellence. When it comes to partnerships, many companies around the world admire the British business ethos. We have a reputation for honesty, reliability and the willingness to work in partnership with people.
But surely the export market is saturated?
You’d think that with all of these benefits – your company would face some stiff competition from other manufacturers… you’d be wrong!
Amazingly relatively few UK companies export – just one in 25, according to recent statistics.
So what do I do next?
At Bubbles Translation Services, we want to help you to unlock your international business potential and thrive in a global marketplace. By helping you communicate with prospects and consumers worldwide, we can help deliver your growth targets.
We’ve helped over 1,000 clients translate over 50 million words into 280 languages. We’ve translated everything from websites for carpet manufacturers to intricate, detailed, technical and life-critical lab equipment documentation – we thrive on the translation challenge for your business.
Get in touch today for a quick, free and no-obligation quote.
